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» April 22 , 2004
OX2 ENGINE REACHES NEW PERFORMANCE THRESHOLDS
Advanced Engine Technologies Inc. Engineers Reach New Performance
Levels in Development of the OX2 Engine
LOS ANGELES (April
22, 2004) - Advanced Engine Technologies Inc. (OTCBB: AENG) announced
today that testing and developmental progress on the OX2 engine continues
as scheduled. As presented at the company’s
annual shareholder meeting in Los Angeles, California in November 2003,
the current OX2 engine continues to out perform each of its previous
test engines in overall horsepower and torque.
The latest of AET’s engines is its design level #2, OX2 engine
#4 (OX2#4), where AET’s engineers report a maximum horsepower
of 35.5 hp at 1065 RPMs while also achieving maximum torque of 193
ft. lbs. at 900 RPMs. These baseline performance results were achieved
without the retro-fitting of the OX2’s newly designed port plate,
which provides modifications to the port shape and size. This new port
design is expected to improve the performance of OX2#4 based upon the
test results achieved during its testing on OX2 engine #2, where intake
and exhaust air flow velocity dramatically improved performance overall.
Also unveiled at the company’s shareholder meeting was AET engineer’s
concept and design of an OX2 Generator prototype. This design utilizes
a separate generator head driven by an OX2 engine. The Company has
begun beta testing and will report on progress in the company’s
next development update.
The OX2 is a 4-stroke, 1.1-liter internal combustion engine that is
17 inches in diameter with a length of 13 inches and a total weight
of 179 pounds in normally aspirated form. The compact engine weighs
75 percent less than and is half the size of traditional internal combustion
engines. In addition, it offers the flexibility of being able to run
on a variety of fossil fuels including gasoline, diesel, natural gas,
liquid propane or methane. In addition, with far fewer moving parts
than traditional engine designs, the OX2 engine could offer the further
advantages of significantly enhanced operation and maintenance costs
and a longer useful life.
With its expected higher power-to-weight ratio, multi-fuel capacity
and anticipated low emissions and fuel efficiency, the OX2 has a practical
and much needed application in the commercial and industrial generator
markets. Additional future applications may include marine, light-duty
farm and construction equipment, light aircraft, and the hybrid electric
vehicle market. However, the near term focus remains electrical generator
applications.
Investor inquiries can be directed to the company at (310) 914-9599.
To update the investment community and all interested parties about
the progress of the OX2 engine, Advanced Engine Technologies has established
a hotline at 310/323-2895.
Additional information pertaining to the OX2 engine can be accessed
through the company's Web site at www.ox2engine.com.
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995
This release may contain forward-looking statements involving risks
and uncertainties that may cause actual future events or results to
differ materially and adversely from those described in the forward-looking
statements. Important factors that may cause such a difference for
AET include, but are not limited to, whether our engine products are
made viable, whether a market for our products develops, our ability
to retain key management, our ability to hire and retain the technical
personnel necessary to build our products, the availability of funding
for future operating requirements, our ability to effectively predict
or react to rapid technology changes that could render our products
obsolete, product development delays, dependence on suppliers, our
potential exposure to product liability and other tort claims if our
products fail, our ability to protect our intellectual property, intellectual
property disputes, and other factors discussed in AET filings from
time to time with the Securities and Exchange Commission. AET cautions
that the foregoing list of important factors is not exclusive. AET
disclaims any obligation to revise or update any forward-looking statement
that may be made from time to time by or on its behalf.
CONTACT:
Jake Jundef/Soon Nguyen
JMPR, Inc.
818/992-4353
jjundef@jmprpublicrelations.com
Snguyen@jmprpublicrelations.com
or John Luft of Advanced Engine Technologies, +1-310-914-9599
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